There is a demand gap for certain chemicals here in Nigeria
We are in contact with the suppliers from China. Samples were sent to us from suppliers and the product samples were given to the different buyers. The products are accepted in the market and we are already having demand to supply.
Nigeria has an affordable housing deficit of 17 million houses estimated at US$363 billion. This number is expected to increase by 2 million houses per year at the current population growth of 2.8% per year. This fact underscores the huge potential available in creating construction support.
Problem or Opportunity
We have situations where user of product are not able to work for lack of these chemicals and the few in the market are substandard.
The buyers are happy with samples and are willing to pay . As at yet, we have spoken to more than 150 manufactures who use the chemicals in their production. The sample were however, given to only the 30 top 10% percentile of product users for feed back.
NNPC is the main competitor, but as a result of bad management and lack of modern equipment , the factory is down 9 months out of 12. The other competitors are people who use as product the pyrolysis of waste Tyre.
Advantages or differentiators
We have superior product with a certificate of analysis that meets the market demand. Our distribution channels are well organized . we have a distribution center in the heart of the real estate construction hub. Our competitors come from the mainland and usually it takes some time before the make deliveries because of the incessant traffic gridlocks.
For the first year, we expect to import 4 times from China to Nigeria.This would result in a gross sales of $164,000.
Interest rate, %
Type of pledge
Pledge and assets
All asset debenture and Academic Certificate of the promoter
We have huge market that does not have availability of good products. Therefore, we sell a product at the same or higher prices with fast delivery and great services. As the company grows, we would expand into other states, invest in technology to make our customers see us and speed up customer-response time.
Solution (product or service)
The products are black and red Iron Oxide for onward sells to paving and concrete stone manufacturers
The likely risk to business are access to funds, change in government policies on importation, competition from other importers of quality products and Functional refining company in the country
Incubation/Acceleration programs accomplishment
I have attended seminars for entrepreneurs.I have also done some learning online through cousera